Ongole: Police seized Rs 65 lakh in demonetised Rs 1,000 and Rs 500 notes from a car during an inspection at the check post on the national highway close to the Industrial Growth Centre at Gullapalli in Maddipadu mandal on Saturday morning. Police took one Kota Hanuman Prasad, said to work for Bharati Soaps Ltd, into custody. The firm is located between Guntur and Amaravati.
This is said to be the first such seizure after demonetisation, in AP. Ongole DSP G. Srin-ivasa Rao said the team led by Naguluppalapadu sub-inspector V. Ajay-babu found the cash and alerted the seniors when Prasad gave vague answers and failed to produce any documents for the cash.
As per the directions of the senior officers, the police handed over the cash and Prasad to the investigation wing of the income-tax department located at Auto-nagar in Vijayawada. Police officials said that IT would deposit the cash in the treasury and release it after levying taxes if the firm was able to produce accounts for holding the cash. They said the currency bundles appeared to be lying in cupboards for a long time, going by the worn out rubber bands around them.
